Month: October 2025

Two major airports of Cyprus have crossed important milestones in August 2025 in terms of passenger volume.

August itself was the busiest month for Cyprus airports, with an 1,800,000+ footfall of passengers. This was over than 12 percent more than the footfall in August 2024. Over 58,000 people passed through the airports daily during this time, with 20th August seeing the largest volume at 64,000+ passengers, and the weekend of 23rd and 24th August seeing over 127,000 within that period.

This came after Cypriot Airports already saw dealt with over 4.9 million visitors from June to August 2025 – over 11% more than a year earlier.

The Larnaka Airport (LCA) crossed a milestone of handling 1.1 million passengers for the third consecutive month in August 2025, which has so far never been done.

On the other hand, Pafos Airport (PFO) handled over 500,000 passengers in the month of August – its busiest month so far. For a regional airport, successfully dealing with such a volume was a major feat and solid indication of the airport rising in popularity as well as contributing to travel and tourism on the island.

All of these developments at large demonstrate that Airports in Cyprus are continuing to act as an important benchmarks of travel and tourism.

Meanwhile, Hermes Airports are looking forward to a strong winter. The company, which operates both LCA & PFO remains dedicated in its effort to enhance the connectivity within the island nation of Cyprus, as well as that of the island with other countries at large. It largely fulfills this via incentive programs and strategic partnerships with airlines and tourism authorities.

https://www.routesonline.com/airports/8258/hermes-airports/news/299665098/cyprus-airports-achieve-first-time-ever-milestones-in-august-2025/

The European Bank for Reconstruction and Development (EBRD) has exited the Bank of Cyprus by selling its entire 5% stake.

The shares – 22,401,744 in number had been offered via accelerated bookbuild on the Athens Stock Exchange (ATHEX).

The Bank of Cyprus received its first investment from the EBRD in 2014 for stabilizing and restructuring itself while navigating the EU’s downturn and the financial crisis worldwide.

Since then, the Bank of Cyprus has become profitable once again. Its ratio of non-performing loan exposure has gone down from 60% to 2.5%. In 2023-2024, it averaged 20% return on equity.

EBRD selling its stake shall serve to help the Bank of Cyprus increase its liquidity on the ATHEX.

Kristina Zagar, the Director of European Union Banks & Structured Finance of EBRD has saif that they are very proud to have aided the Bank of Cyprus for over a decade as it navigated ups and downs. Since their strategic investment, the Bank of Cyprus has managed to tighten its credit process and reestablished itself as a reliable lending partner. Now it has also re-listed on ATHEX – even after being delisted from London – which demonstrates the bank’s transformation arc.

The EBRD originally made an investment of €600 million in the island nation for the period of 2014-2020, mainly to help the financial sectors recover themselves.

EBRD exits Bank of Cyprus